Mentha oil prices declined by Rs 2.90 to Rs 1,064 per kg in futures trade today as traders reduced their positions due to sluggish demand in the physical market.
Increased arrivals at the spot markets from the producing belts in Uttar Pradesh also weighed on the prices.
At the Multi Commodity Exchange, mentha oil for August delivery declined by Rs 2.90, or 0.27%, to Rs 1,064 per kg, with a business turnover of 507 lots.
September delivery shed Rs 2.60, or 0.24%, to Rs 1,070.50 per kg, with an open interest of 179 lots.
Analysts said traders reduced their positions following subdued spot market demand, which mainly led to a decline in mentha oil futures prices.
